Nov 06 2007 |
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Kuwait: International Resorts makes KD 3.3m as Q3 profit; NIC posts KD 46.8m Q3 profit
KUWAIT CITY: National Investment Company (NIC) met on Nov 4 and adopted the financial statements of the company for the periods that ended on Sept 30, 2007. The company posted the Third quarter profit of KD 46,837,325 with earning per share valued at 65 Kuwaiti fils compared to KD 31,787,582 with earning per share of 45 Kuwaiti fils during the corresponding period last year. Note that net profit includes unrealized losses worth KD 18,929,632.Earnings for the three months ending Sep 30, 2007 amounted to KD 12,357,236 with earnings per share of 16 Kuwaiti fils and the profits for the same period last year amounted to KD 8,350,558 with earnings per share of 12 Kuwaiti fils. NIC is a leading Kuwaiti investment house publicly traded on the Kuwait Stock Exchange (KSE) and licensed and regulated by the Central Bank of Kuwait (CBK) . With a paid-in-capital of KD 51.24 million, NIC is an active player in various sectors of the local, Arab and international markets. The company boasts a large and diversified shareholder base and includes some of Kuwait's most prominent institutions and high net-worth individuals.International Resorts Company (IRC) met on Nov 5 and adopted the financial statements of the company for the periods that ended on Sept 30, 2007. The company posted the Third quarter profit of KD 3,289,580 with earning per share valued at 21 Kuwaiti fils compared to loss of KD 5,736,325with earning per share of (37) Kuwaiti fils during the corresponding period last year. Note that net profit includes unrealized loss amounting to KD 19,572 and unpaid dues worth KD (59,307).
For the three months ending Sep 30, 2007 loss incurred amounted to KD 238,263 with earnings per share of (2) Kuwaiti fils and the loss for the same period last year amounted to KD 1,395,940 with earnings per share of (9) Kuwaiti fils. Established in 1976, IRC 's Activities include investing in real estate, hotels, restaurants and beach resorts as well as general contracting and civil, mechanical and electrical maintenance.
Kuwait Stock Exchange (KSE) announces that Mushrif Trading and Contracting Company (MTCC) reported to have signed a contract with the Ministry of Health (MOH) valued at KD 3.3 million for the implementation of the second phase of the national project for the rehabilitation of hospitals, health, which includes the psychiatric hospital and natural diseases and duration of the project will last three years starting from Oct 1, 2007. Established in 1968, Mushrif is now one of the leading and fastest growing construction companies in the Gulf region. Based in Kuwait with more than 39 years of experience as a heavy civil building and infrastructure contractor and nearly 3000 employees. Mushrif has made its mark in a number of important projects in the Gulf Region in the fields of water/wastewater treatment, oil and gas, pipelines and pump stations, roads and highways, airports and runways, building and infrastructure works, environmental and other industrial projects.
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